Weekly Market Commentary for May 26th, 2020
Stocks were mixed Friday as investors weighed rising trade tensions between China and the U.S. and uncertainty about the pace of an economic recovery from the coronavirus. Frictions rose after China announced new security measures on Hong Kong and U.S. senators introduced a bill to sanction Chinese officials and agencies. Still, all three major indices posted weekly gains. For the week, the Dow rose 3.43 percent to close at 24,465.16. The S&P gained 3.27 percent to finish at 2,955.45, and the NASDAQ climbed 3.48 percent to end the week at 9,324.59.
Weekly Market Commentary for May 18th, 2020
The market was volatile on Friday as investors digested a record drop in retail sales and increased trade tensions with China as the Trump administration imposed new restrictions on Chinese telecom giant Huawei. Stocks edged up by closing but still suffered big losses for the week. For the week, the Dow fell 2.61 percent to close at 23,685.42. The S&P lost 2.20 percent to finish at 2,863.70, and the NASDAQ dropped 1.15 percent to end the week at 9,014.56.
Weekly Market Commentary for May 11th, 2020
Stocks rose Friday despite the worst jobs report on record; the Labor Department reported the nation lost 20.5 million jobs in April. However, investors were encouraged by plans to begin reopening the country and a statement from Chinese and U.S. leaders saying they expected to meet their obligations in the phase one trade deal signed in January. For the week, the Dow rose 2.67 percent to close at 24,331.32. The S&P gained 3.57 percent to finish at 2,929.80, and the NASDAQ climbed 6.05 percent to end at 9,121.32.
Weekly Market Commentary for May 4th, 2020
Even though the drug remdesivir received emergency use authorization for treating hospitalized coronavirus patients, stocks fell on the first day of May amid disappointing earnings reports and growing tensions between China and the U.S. The day before, the market ended April with its best monthly surge in over 30 years, with the S&P up 12.7 percent and the Dow up 11.1 percent for the month. For the week, the Dow fell 0.22 percent to close at 23,723.69. The S&P lost 0.19 percent to finish at 2,830.71, and the NASDAQ dropped 0.33 percent to end the week at 8,604.95.
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